CLSA expects Havells India's kitchen appliances foray to boost competition, reports say

Stove Kraft

06/03/2024 07:35

** Shares of Havells India  HVEL.NS  down 1.6%; trading
between gains of 2% and losses of 2.1%
    ** Co on Tuesday said it plans to expand its product
portfolio with offering of kitchen appliances such as cooktops
and chimneys
    ** Adds it expects to launch products in May; targets
becoming one of top 3 players over next 3 years
    ** CLSA says competitive intensity to rise in large kitchen
appliances segment with co's entry, CNBC-TV18 and Moneycontrol
report
    ** CLSA says if co grabs a 10% market share, it could add
45-70 rupees to earnings per share, reports say
    ** Analysts' avg recommendation on HVEL is equivalent to
'buy' - LSEG
    ** Avg recommendation on Stove Kraft  STOE.NS  is 'strong
buy', Crompton Greaves  CROP.NS  has 'buy' and TTK Prestige
 TTKL.NS  rated 'hold' - LSEG
    ** HVEL up ~11% YTD, STOE climbed 6.7%
    ** CROP down 6.8% YTD, while TTKL declined 3.6%

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))